Midday Movers: Meta Platforms, Bausch Health, Spirit Airlines and More

2022.07.28 21:57

By Liz Moyer

Investing.com — U.S. stocks rose on Thursday, shaking off news that the economy shrank in the second quarter. Here are the midday movers for July 28:

• Meta Platforms Inc (NASDAQ:META) stock fell more than 6% after the Facebook parent said online sales slowed and it disappointed on second quarter results.

• Bausch Health Companies Inc (NYSE:BHC) shares tumbled 50% and were halted after a judge’s order opened the door for a generic competitor to its Xifaxan drug for treating irritable bowel syndrome.
• Spirit Airlines Inc (NYSE:SAVE) shares rose nearly 5% after a deal by JetBlue Airways (NASDAQ:JBLU) to buy it for $3.8 billion, another chapter in a months-long deal drama that ended Wednesday when Spirit terminated a deal with Frontier Group (NASDAQ:ULCC).
• Qualcomm Incorporated (NASDAQ:QCOM) shares fell 4.6%. Revenue beat expectations but the company’s outlook was disappointing.
• Teladoc Inc (NYSE:TDOC) shares plunged 18% after the remote health care provider had a bigger than expected loss and a $3 billion impairment charge.

Source